A commercial bank's reserves are
A) bonds issued by the U.S. government that are very safe.
B) the provision of funds to businesses and individuals.
C) currency in its vault plus the balance on its reserve account at a Federal Reserve Bank.
D) savings and time deposits.
E) its loans.
C
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The concept of scarcity as used by economists refers to:
a. a situation of excess supply. b. a situation in which the available resources are not enough to satisfy the wants of the people at a zero price. c. a situation in which an item is available only in very small quantities. d. a situation in which an item is very expensive. e. a situation in which a resource is nonrenewable.
The majority of spending in the category of government purchases comes from:
A. the federal government. B. state and local governments. C. transfer payments. D. military spending.
In 2013, the income share of the highest quintile was:
A. almost 60 percent. B. 20 percent. C. almost 90 percent. D. 47 percent.
When a person receives an increase in wealth, what is likely to happen to consumption and saving?
A. Consumption decreases and saving decreases. B. Consumption decreases and saving increases. C. Consumption increases and saving increases. D. Consumption increases and saving decreases.